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CoinCryptoUS's conversations on the sociopolitics of the Web3 ecosystem, non-fungible tokens (NFT), and the Metaverse were broadcast to attendees of the BlockDown Croatia 2022 event. It turns out that the crypto ecosystem's continuing developments are well-positioned to shape the future of media and entertainment.
While crypto continues to blur the barriers between the virtual and physical worlds, Cointelegraph's editor-in-chief, Kristina Cornèr, said during the BlockDown event that "it's been a chaotic year" when discussing the growing effect of crypto innovations within media firms.
Cornèr emphasized NFT use cases that provide independent artists and journalists with a platform to gather funding and address real-world issues like climate change. Cornèr expressed worries about the mixing of virtual and physical worlds in the Metaverse in a separate conversation with Dylan Dewdney, the founder of NFT3, a unified identity network.
Despite the merging of the two worlds, real-world problems, according to Dewdney, have a significant probability of leaking into the Metaverse. He did propose, however, creating a pseudodenomous system in which individuals are confirmed but can opt not to reveal their names to other Metaverse members.
Dewdney believes that when the world gradually changes into its new home, the Metaverse, "the real world will improve." However, it will be necessary for people to adopt elements of the crypto ethos, particularly in terms of equitability and personal responsibility:
"I believe the world is ready to evolve, and we are beginning to create the technical underpinnings for much of it." You must be cautious about how this unfolds and take personal responsibility for disseminating that message."
Cornèr also announced the revival of BlockShow — Cointelegraph's flagship event — as a decentralized autonomous organization (DAO) that allows participants to acquire a stake in the show and participate in event planning. The purpose of BlockShow DAO, according to BlockShow CEO Addy Crezee, is to "attract more people to Web3 and allow individuals enjoy the benefits of the ownership economy."
Dewdney continued to explore the sociopolitics of life in the Metaverse with Cornèr, saying:
"We'll still have the same problems because we're the same old dull humans who do the same old petty things, as well as wonderful things."
"It's a future really worth getting excited about" — on an individual and communal level — if the crypto community can effectively decentralize the internet.
Dewdney hopes to give the Metaverse ecosystem with a decentralized identity service via NFT3. The service can link a pseudonymous yet real-life person to a variety of data. Finally, Dewdney believes that the crypto ecosystem must progress beyond the financial use case of blockchain to the "human use case."
Andreessen Horowitz (a16z), a venture capital firm, recently created the Games Fund One, a $600 million fund dedicated to gaming businesses with a focus on Web3. The money will help game developers, consumer apps, and gaming infrastructure suppliers.
Metaverse initiatives are garnering funding from gaming industry titans, as Cointelegraph previously reported. Epic Games, the maker of the famous Fortnite game, raised $2 billion in April with help from Sony and Lego to create a metaverse.
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